Cessna CEO Says Market Is Stabilizing

WICHITA, Kan. (AP) -- The head of Cessna Aircraft says the business jet market is starting to stabilize after a monthslong free fall.

The Wichita-based company's chairman, president and CEO, Jack Pelton, told The Wichita Eagle that orders are rising and cancellations are falling. He says aircraft deliveries are expected to hit their low next year, and that a steady climb is expected to follow.

Meanwhile, the head of Cessna's parent company says there are no plans to sell Cessna as has been rumored.

Scott Donnelly is the president and chief operating officer of Providence, R.I.-Based Textron Inc.

He says Cessna is "a central asset of what Textron is."

Donnelly also stressed that the company would emerge from the economic downturn even stronger.

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